36 U.S. Code § 150713 - Distribution of assets on dissolution or final liquidation
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On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be transferred by the board of directors to a recognized agency or agencies engaged in the furtherance and advancement of citizenship.
Source(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1394.)
|Revised Section||Source (U.S. Code)||Source (Statutes at Large)|
|Aug. 13, 1953, ch. 427, § 15, 67 Stat. 565.|
The word “satisfaction” is omitted as included in “discharge”, and the word “obligations” is omitted as included in “liabilities”. The word “outstanding” is omitted as unnecessary.
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